A Macroeconomic Perspective on Tax-based Incomes Policies

How to contain the money wage level while maintaining full employment and without breeding unacceptable interferences in labour markets, comes close to being the most important policy issue of our day. (Weintraub, 1960)

This quote from the writings of Sidney Weintraub twenty-five years ago demonstrates four important aspects of his significant intellectual contributions to the economics profession and society at large. First, he considered inflation to be a matter of keen social concern, even at the relatively modest rates experienced during the 1950s and well before the dramatic acceleration of inflation that occurred during the 1970s.